The unstoppable growth of US money supply
byAfter all the fuss about tapering, it is worth remembering that central banks can and do expand the money quantity without quantitative easing. Put…
September, 2013
Central bank balance sheets
byNow that there is growing evidence of GDP growth, we must consider a new topic: the likely effect on central bank balance sheets, using…
Taper (where?) party
by“This took guts.” – Comment by Steven Ricchiuto of Mizuho Securities in response to the Federal Reserve’s surprise decision to refrain from “tapering” its…
Monetary inflation prospects
byOn Wednesday last the Fed surprised most people by deciding not to taper. What is not generally appreciated is that once a central bank…
No tapering, no surprise
byIt was not too surprising that there is going to be no tapering for some very good reasons. The commencement of tapering would have…
Fed’s tightening and economic activity
byOn September 17-18 US central bank policy makers are likely to decide on the reduction in their monthly purchases of bonds by between $10…
In defence of ‘demand’ deposits
byI owe a debt of obligation to my fellow Cobdenites for kickstarting a debate about money and banking amongst the UK Austrian community. As…
The Yakiniku recovery
byReaders of The Cobden Centre blog may be interested in the recent report from Kaleidic Economics. It focuses on an analysis of Japan’s “lost…
The real Iron Law of Wages
byOne of the oldest fallacies in economics is that the amount of work done should be reflected in the amount of pecuniary reward received…
Goodbye Detlev – for now
byWriting on his website, Detlev Schlichter has announced his exit from the sphere of ideas and writing: This is the final blog entry in…